Anyone had success using currency exchange with Escrow.com

[Ashirus]

I've sold a domain for $50000 and the funds are in escrow.com,

I'm UK based and bank with HSBC who like many banks will give me a poor exchange rate for a international wire transfer.

Has anyone had any success using a Forex service to transfer dollars out of escrow.com?

I don't mind if it doesn't go through automatically but requires chasing the Forex company and even escrow.com to find the payment and match it to me, as long as it doesn't take more than a week or so.

I reached out to escrow.com about this and they said:

Hello,
I appreciate your response.

Please note that we do not support disbursement of funds to transferwise accounts or any other third party payments services. Funds can only be released to a personal or company USD bank account in your verified name.

As a financial and safe payments service, we are required to verify the identities of the individuals in our system that are making and receiving payments. In line with that, we can only release funds to a personal or company USD bank account in your verified name.

I hope this clarifies any confusion. If you have any questions, don't hesitate to ask away. I'd be happy to help.

Kind regards,
---
Escrow.com​

... but I have heard of people managing to do this, and nowhere in their T&Cs does it say I can't.

thanks,
Ash

 

[Jasonn]

With their new verification process I don't see how it would be possible. It would make the whole verification process pointless.

 

[Ashirus]

Well, a TransferWise "borderless" account makes an account in my name (although the address and true owner is TransferWise) and I was hoping to use this.

If I do an international wire account to my UK HSBC business account, they will give such a poor exchange rate that it will cost me about $950 over and above what TransferWise would charge me!

I'd be quite happy to risk the payment not going through smoothly and having to chase it down as long as it would reach my account after a few days.

So has anyone managed to use a currency exchange service (e.g. the new Transferwise borderless accounts)?

 

[dederza]

Hey! Did you find a way to do that? I'm in the exact same situation